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750,000 MATIC burned over past three months

Over the last three months, more than 750,000 MATIC have been burned, according to Stader Polygon. So far, 1,642,831 MATIC (1.6 million) have been burned, according to the Polygonburn website.

The EIP-1559 upgrade, which went live on the Polygon network in January, permitted the burning of Polygon’s native token, MATIC. Similar to a Polygon withdrawal, the tokens are burnt and removed from the overall supply.
The priority cost is paid to the validator each time a user pays for a transaction, while the base fee is locked to the burn contract on Polygon. Once MATIC has been gathered on the burn contract, users can begin the burn procedure from Polygon.
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More than 834,000 people attended Polygon MATIC’s first Polygon Ignite in the Metaverse, which is more than double the population of Iceland.
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Read more: Polygon and Avalanche founders take sides over Subnet vs Supernet

Kunal Krishan
Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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